Amazon To Boost Investment In India After India PM Concludes US Visit

Amazon.Com, Inc AMZN shared plans to ramp up investments in India to $26 billion by 2030, adding $6.5 billion in new planned assets after CEO Andy Jassy met Prime Minister Narendra Modi in the U.S.

In May, Amazon Web Services (AWS) voiced plans to invest ₹1.06 trillion ($12.9 billion) in the country by the end of 2030.

Earlier, Amazon disclosed a $6.5 billion investment plan to boost its e-commerce business.

Also Read: Micron Braces For Chip Testing Debut In India As Country Ratifies $2.7B Project

The new investment committed now comes to around an additional $6.5 billion, Reuters reports.

Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitizing, and empowering individuals and small businesses to compete globally, as per Amazon's blog.

Separately, Alphabet Inc GOOG GOOGL Google proposes to open a global fintech operation center in GIFT City in India's western state of Gujarat, with teams working on operations supporting its payment service GPay, and other product operations at Google.

"We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," CEO Sundar Pichai told reporters.

On the final day of his Washington trip, Modi met with U.S. and Indian technology executives, including Apple Inc's AAPL Tim Cook, Google's Pichai, and Microsoft Corp's MSFT Satya Nadella and urged them to invest in India.

Price Action: AMZN shares traded higher by 0.28% at $129.69 premarket on the last check Monday.